Your client performs a stocktake, which involves vouching from the inventory report to the goods in the warehouse as well as tracing from the goods in the warehouse to the inventory report. Which of the following is most correct?

a.

If the auditor were to trace the highest value stock items from the warehouse to the inventory report, this is most likely a test of controls (reperformance)

b.

The stocktake is primarily a control over the existence and completeness of inventory

c.

The most efficient and effective way to test the stocktake control would be to utilise Generalised Audit Software

d.

If the auditor were to vouch the highest value stock items from the inventory report to the warehouse, this is most likely a test of controls (recalculation)